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200610533 13. Notices. Any notice to Borrower provided for in tIus Security Instnunent shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of anotIler method. The notice shaH be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in tIus paragraph. 14. Governing Law; Severability. Tills Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of tIus Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of tIlis Security Instrument or the Note willch can be given effect witIlOut the conflicting provision. To this end ilie provisions of tllls Security Instrument and tIle Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one confornled copy of the Note and of this Security Instrument. 16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in tIle Property. Borrower shall not do, nor allow anyone else to do, anything affecting tIle Property tllat is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recogluzed to be appropriate to nOflllal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any govenmlental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or oilier remediation of any Hazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance Witll Environmental Law. As used in tills paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, otller flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or fonnaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located tllat relate to Ilealili, safety or enviromnental protection. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and tral1.<;fers to Lender all ilie rents and revenues of the Property. Borrower auiliorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay tIle rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for ilie benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to tlle tenant. Borrower has not executed any prior assignment of the rents and has not and will not perfofil any act that would prevent Lender from exercising its rights under tllls paragraph 17. Lender shall not be required to enter upon, take control of or lnaintain the Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any oilier right or remedy of Lender. Tlus assignment of rents of the Property shall tenninate when the debt secured by the Security Instrument is paid in full. e-4N(NE) (0407) @ Page 6 0[8 w,,'~